FDI May Exceed 2.0 Bln Euro in 2013 – InvestBulgaria CEO

FDI May Exceed 2.0 Bln Euro in 2013 – InvestBulgaria CEO

Foreign direct investments (FDI) in Bulgaria may reach 2.0-2.5 billion euro ($2.7-3.3 billion) in 2013, the executive director of the country's investment promotion agency InvestBulgaria, Borislav Stefanov, said.

In 2011, FDI in Bulgaria reached some 1.7 billion euro, up from 1.0 billion euro in 2010, Stefanov said in an interview for the Bulgarian National Radio.

Preliminary estimates for last year put FDI in the country at some 2.0 billion euro.

Stefanov recalled the recent amendments to the Investment Promotion Act, which  envisage that the state repay all social security contributions to companies certified as ‘A' class investors which have hired new employees, if these new jobs are maintained for at least three years for small- and medium-sized enterprises and five years for major companies. He commented that the total amount of funds which will not enter the fisc as a result of these amendments will be significantly lower than the amount of money that will be invested in the country.


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